India is in talks with Gulf countries, including Bahrain and Saudi Arabia, to expand its Unified Payments Interface service. While the discussions are in the preliminary stages, many nations have shown interest in advancing the talks.
As per media reports, the National Payments Corporation of India is spearheading the talks with Gulf countries to establish bank-to-bank transfer systems for cross-border remittances since millions of Indians live and work in the region.
According to a report in Livemint.com, based on initial conversations, many countries have shown interest in taking the talks ahead with regards to the expansion of UPI.
The ease of using UPI has made it a widely popular payment option in India in a relatively short period of time. The same convenience could now be expanded to nations where Indians have a sizable presence.
